Biotech Short Candidates Message Board

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Biotech / Medical : Biotech Short Candidates

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To: prophet_often who wrote (12)	1/10/2001 3:13:38 PM
From: Biomaven	Read Replies (1) of 897

IVGN This is a low margin business. The profile lists their profit margin at 0.6% and their operating marging at 1.8%. Am I missing something here? I can't believe people are buying (or shorting) stocks based on the numbers in some "profile." IVGN just completed a very large merger, and this considerably distorts their current numbers because of purchase accounting and other factors. Historically, their gross margins have been around 60%, with a revenue CAGR over the last 5 years of around 30%. There's likely to be some short-term pressure on margins because of the merger, but a return to the old numbers is likely after a few quarters. Revenue growth over the next several years should continue very strong. I still own some IVGN I received in the LTEK merger. Peter

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